European Banking Union

Name: European Banking Union | The New Regime
Brand: Kluwer Law International
Price: 196.99 EUR
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The New Regime

Luis M. nez JosÃ Beneyto(Herausgeber*in)

Kluwer Law International (Verlag)

Erschienen am 17. Juli 2015

288 Seiten

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978-90-411-5271-8 (ISBN)

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Inhalt

Cover
Half Title Page
Editorial Board
Title Page
Copyright Page
Editors
Contributors
Summary of Contents
Table of Contents
Preface
PART I Introduction to the Banking Union
CHAPTER 1 The Banking Union: A General Perspective
CHAPTER 2 Banking Union: Risks and Challenges
§2.01 INTRODUCTION
§2.02 SINGLE SUPERVISORY MECHANISM
§2.03 SINGLE RESOLUTION MECHANISM
§2.04 SINGLE DEPOSIT INSURANCE FUND
§2.05 CONCLUSIONS
PART II Single Rulebook
CHAPTER 3 The EU Single Rulebook: Capital Requirements for Banks and the Maximum Harmonisation Principle
§3.01 INTRODUCTION
§3.02 OVERVIEW
§3.03 MAXIMUM HARMONISATION
§3.04 SHOULD THE CRD IV PERMIT GOLD PLATING?
§3.05 TIER ONE CAPITAL
§3.06 CORPORATE GOVERNANCE AND RISK MANAGEMENT
§3.07 THE CRD IV, BANKING UNION AND MACRO-PRUDENTIAL SUPERVISION
§3.08 CONCLUSION
CHAPTER 4 The Fight against White-Collar Crime as European Financial Crisis Rescuer: Regulatory Challenges and the Tough on Crime Approach
§4.01 INTRODUCTION
§4.02 EUROPEAN FINANCIAL CRIMES: CONTEXT AND BACKGROUND
§4.03 REGULATORY CHALLENGES AND THE EU'S FIGHT AGAINST FINANCIAL CRIME
[A] EU Anti-money Laundering Action and Ways to Fix the Crisis
§4.04 THE MARKET ABUSE FRAMEWORK AND THE RECOVERY OF THE MARKET
§4.05 UNRESOLVED ISSUES: DATA PROTECTION AND FUNDAMENTAL RIGHTS
§4.06 BRIEF CONCLUSIONS
PART III Common Supervision of European Banks
CHAPTER 5 The Role of the ECB in the Supervision of Credit Institutions
§5.01 INTRODUCTION
§5.02 A GENERAL OVERVIEW OF THE SYSTEM
§5.03 THE SELECTION OF THE CREDIT INSTITUTIONS TO BE SUPERVISED BY THE ECB
§5.04 DECISION-MAKING AND THE POSITION OF NON-EURO MEMBER STATES
§5.05 THE SEPARATION OF SUPERVISORY AND MONETARY FUNCTIONS
§5.06 THE RELATIONSHIP BETWEEN THE ECB AND THE NATIONAL AUTHORITIES
§5.07 DEMOCRATIC ACCOUNTABILITY IN THE NEW SUPERVISORY SYSTEM
§5.08 THE DIVISION OF NORMATIVE FUNCTIONS BETWEEN THE EBA, THE ECB AND THE COMMISSION
§5.09 FINAL REMARKS
CHAPTER 6 Variable Geometry: The Role of the European Banking Authority under Banking Union
§6.01 INTRODUCTION
§6.02 THE SSM MAY AFFECT THE WAY THE EBA TAKES DECISIONS
§6.03 THE EBA RETAINS PRIMARY RESPONSIBILITY FOR THE SINGLE RULE BOOK
§6.04 THE SSM WILL CHANGE THE BASIS FOR SUPERVISORY COOPERATION WITHIN THE EURO-AREA
§6.05 THE EBA WILL RETAIN ITS ROLE FOR EU-WIDE SUPERVISORY ISSUES
§6.06 THE EBA'S ROLE IN RESOLUTION
§6.07 THE SRM AND THE ROLE OF THE SRB IN RESOLUTION
§6.08 CONCLUSION: SIMPLER IN THEORY, MORE COMPLEX IN PRACTICE?
CHAPTER 7 Regulatory Coordination in the Banking Union: The Role of National Authorities
§7.01 INTRODUCTION
§7.02 EVOLUTION OF THE INSTITUTIONAL SETTING FRAMEWORK FOR FINANCIAL STABILITY IN THE EU
[A] From Implicit to Explicit Coordination among Safety Net Regulators
[B] Limitations of Cooperation and the Need for Centralization
§7.03 IS THE BANKING UNION A FULLY CENTRALIZED MODEL?
[A] Characterization of the Single Supervisory Mechanism
[B] The Other Elements of the Banking Union
[1] Single Resolution Mechanism
[2] The Single Resolution Fund
[3] .And the Liquidity Provision to Banks in Crisis
§7.04 CONCLUSIONS
PART IV Bank Recovery and Resolution Programmes
CHAPTER 8 The Establishment of a EU-Wide Framework for the Resolution of Banks and Financial Institutions
§8.01 INTRODUCTION
[A] Bank Resolution and Its Vital Role in Strengthening the EU Single Market
[B] The G20 and the Financial Stability Board Key Attributes for Effective Resolution Regimes
§8.02 THE BANK RECOVERY AND RESOLUTION DIRECTIVE
[A] Timeline, Process and Outcome of Legislative Deliberations
[B] The Key Components: Preparation, Early Intervention, Resolution
[C] Bail-in Hierarchy and Scope
[D] Loss Absorbing Capacity: Minimum Requirement for Own Funds and Eligible Liabilities (MREL)
[E] The Role of Resolution Funds
[F] The Interaction of Bail-In, Resolution Funds, and State Support in Loss Absorption and Recapitalization
[G] Home-Host Cooperation and Arrangements with Third Countries
§8.03 THE SINGLE RESOLUTION MECHANISM
[A] The Logic of Banking Union and the Single Resolution Mechanism
[B] Legal Base for a Single Resolution Mechanism
[C] Timeline, Process and Outcome of Legislative Deliberations
[D] Key Components of the Single Resolution Mechanism
[E] Entry into Force/Application of the SRM Regulation
§8.04 CONCLUSION
ANNEX I: SRM RESOLUTION PROCESS
ANNEX II: PACE OF MUTUALIZATION DURING THE TRANSITIONAL PERIOD OF 8 YEARS ASSUMING 55 BILLION OF TARGET LEVEL
CHAPTER 9 Direct Recapitalization of Banks and Sovereign Debt: The ESM Direct Recapitalization Instrument and Its Impact on Sovereign Debt
§9.01 INTRODUCTION
§9.02 INDIRECT RECAPITALIZATION
[A] Ireland: How Expensive a National Recapitalization Can Be
[B] Spain: Direct Recapitalization Was Discussed for the First Time
[C] Cyprus: The 'Bail-in' Term Was Born
[D] Portugal: The Bad Bank Strategy Is Consolidated
§9.03 ESM DIRECT RECAPITALIZATION INSTRUMENT
[A] ESM Guidelines
[B] Basic Eligibility Criteria
[1] Member States in Serious Fiscal Difficulties
[2] Banks with Systemic Relevance
[C] Shared Responsibilities Conditions
[1] There Is No Bail-Out without a Previous Bail-In
[2] Contribution of Member States
[D] Monitoring and Supplementary Conditions
[E] ESM's Lending Capacity
[F] Retroactive Application
§9.04 CONCLUSIONS
PART V Deposit Guarantee Schemes
CHAPTER 10 Deposit Insurance: How to Deal with the Missing Pillar of Banking Union
§10.01 INTRODUCTION AND MOTIVATION
§10.02 BASIC PRINCIPLES OF REINSURANCE
[A] Compulsory Reinsurance with a Deductible
[B] Institutional Issues
[C] Premiums and Management
[D] Transition
§10.03 CONCLUSIONS
ANNEX I: FDIC: FOUR-SCORE YEARS OF DEPOSIT INSURANCE IN THE US
PART VI Complementary Aspects
CHAPTER 11 New Rules for Credit Rating Agencies in the EU
§11.01 INTRODUCTION
§11.02 REDUCING RELIANCE ON EXTERNAL CREDIT RATINGS
[A] International Developments
[B] The EU Action Plan
§11.03 REGULATING CRAs IN THE EU
[A] A Single Supervisor for CRAs in the EU
[B] Addressing Conflicts of Interest
[C] Increasing Transparency on the Credit Rating Market
[1] Credit Ratings, Rating Outlooks and Methodologies
[2] General and Periodic Disclosures
[3] CEREP and the European Rating Platform
[D] Making CRAs Liable
[E] Using Ratings Issued in Third Countries
§11.04 SPECIFIC RULES FOR STRUCTURED FINANCE INSTRUMENTS (SFIs)
[A] Specific Disclosure Requirements
[B] Dealing with Conflicts of Interest on SFIs
[1] Obligation for Two Ratings for SFIs
[2] Rotation
§11.05 TRANSPARENCY ON SOVEREIGN RATINGS
§11.06 MEASURES TO INCREASE COMPETITION IN THE RATING MARKET
§11.07 CONCLUSION
CHAPTER 12 EU Banking Union and International Financial Law
§12.01 THE INTERNATIONAL FINANCIAL ARCHITECTURE AFTER THE CRISIS
[A] The Assumption of the Political Governance of the International Financial System by the G-20
[B] The Strengthening of the Financial Stability Board
[C] The Exponential Growth of International Financial Soft Law
[D] The 'Hardening' of the Financial Soft Law
§12.02 THE INFLUENCE OF INTERNATIONAL FINANCIAL LAW ON EU BANKING UNION
[A] Capital Requirements for Banks
[B] The Banking Supervision and the Single Supervisory Mechanism
[C] The Resolution Regimes for Financial Institutions and the Single Resolution Mechanism
§12.03 THE EU PARTICIPATION IN THE TRANSNATIONAL REGULATORY NETWORK ON BANKING ACTIVITIES
§12.04 CONCLUDING REMARKS
CHAPTER 13 The Future of the Banking Union
§13.01 INTRODUCTION
§13.02 THEORIES OF MONEY
[A] The Origins of Money
[B] The Origins of Money, OCA Theory and the Incompleteness of EMU
§13.03 THE BANKING UNION AND ITS DISCONTENTS
[A] The Creation of the Banking Union
[B] A Fiscal Union through the Back Door
[C] Sovereignty, Legitimacy and Redistribution
§13.04 IN CONCLUSION: EMU NEEDS TO MOVE FORWARD TO MAKE THE EURO SUSTAINABLE
Bibliography
Index
Back Cover

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